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Posted on Aug 01, 2024

A company had pretax financial income of $649,000 in 2021. During 2021, the following items cause taxable income to be different than pretax financial income:

Depreciation for tax purposes in excess of book depreciation $7,000

Fines resulting from a violation of law 1,760

Received advance rent payment. The rent is for 2022. 8,550

What is taxable income for the company in 2021?

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